Insurance

Homeowners insurance Exclusions - Workers compensation

If you are putting an addition on to your home, production repairs, or having any type of work at all done on your home by outside, hired contractors, one thing that's missing from your standard homeowners course is workers compensation. Most larger contractors carry workers payment assurance for their employees but if you hire a smaller company or even private handyman to do some work on your home and they do not carry it, you could be held liable if man gets injured while working on your home.

There is a additional coverage you can buy if the workers you hire are uninsured. It is called contingent workers compensation. If you carry this homeowners coverage option, you will not be held liable if some uninsured laborer gets hurt while working on your property. Instead, the assurance company will cover the healing expenses and lost wages that the laborer faces. If you don't have the coverage, you would be legally responsible to pay everything that a workers payment assurance provider would cover.

Insurance

So, who should buy this additional policy? whatever who has a decent estimate of money and/or value in the home, and is hiring uninsured workers to work on their property. If you are in a poor financial situation, this coverage may not be needful because you can only be sued for what you are able to pay. This is, of course, open to all kinds of interpretation so if you are in doubt, buy the coverage. It's not that costly and it can save you tons if something were to happen.

Homeowners insurance Exclusions - Workers compensation

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